Wix.com (NASDAQ:WIX) Shares Gap Down – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX) shares gapped down before the market opened on Monday . The stock had previously closed at $52.39, but opened at $47.71. Wix.com shares last traded at $49.37, with a volume of 764,785 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WIX shares. Barclays lowered their price target on Wix.com from $155.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Wix.com in a report on Monday. Citigroup lowered Wix.com from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $66.00 in a report on Thursday, May 14th. Piper Sandler assumed coverage on Wix.com in a report on Thursday, March 12th. They issued a “neutral” rating and a $98.00 target price on the stock. Finally, Cantor Fitzgerald dropped their target price on Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.90.

Wix.com Price Performance

The company has a 50-day simple moving average of $69.06 and a 200-day simple moving average of $82.50. The stock has a market cap of $2.91 billion, a PE ratio of -64.10 and a beta of 0.92.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.53). The business had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. On average, equities analysts expect that Wix.com Ltd. will post -0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Arkadios Wealth Advisors acquired a new stake in Wix.com in the first quarter valued at $249,000. California State Teachers Retirement System grew its holdings in Wix.com by 6.0% in the first quarter. California State Teachers Retirement System now owns 59,243 shares of the information services provider’s stock valued at $5,336,000 after purchasing an additional 3,343 shares during the last quarter. Empowered Funds LLC acquired a new stake in Wix.com in the first quarter valued at $2,381,000. Quantinno Capital Management LP grew its holdings in Wix.com by 155.6% in the first quarter. Quantinno Capital Management LP now owns 122,722 shares of the information services provider’s stock valued at $11,054,000 after purchasing an additional 74,716 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its holdings in Wix.com by 7,102.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock valued at $62,623,000 after purchasing an additional 685,614 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.